The Company has completed, through the signing of a purchase agreement with possession and transfer of business assets, the acquisition of the ‘Terrazas de Mayo’ shopping center, located at the intersection of Routes 8 and 202, across from Campo de Mayo, in the Malvinas Argentinas district, in the northwest of Greater Buenos Aires, approximately 40 kilometers from the City of Buenos Aires.
The shopping center has 90 stores, 20 stands, and a total gross leasable area (GLA) of approximately 33,720 m², which includes 15 foodservice establishments and 10 movie theaters. The transaction amount was set at USD 27.75 million, of which USD 16.65 million, representing 60% of the total, has been paid to date. The remaining balance of USD 11.1 million will be paid as follows: 50% upon the deed of transfer of ownership, which is expected to take place in 2025, and 50% after 36 months. Following this acquisition, the Company’s shopping center portfolio consists of 16 assets, of which 15 are operated by IRSA, totaling 370,000 m² of GLA.
